29 March 2017
Asian shares inched ahead on Wednesday as investors shook off disappointment about U.S. President Donald Trump's failed healthcare bill and focused on an improving outlook for global growth.MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.2 percent and back toward recent 21-month peaks. 

Most Gulf stock markets edged up on Tuesday although trading volumes were generally low.

The dollar pulled away from 4-1/2-month lows against a currency basket on Wednesday after solid data backed expectations for more U.S. interest rate hikes this year, while sterling was knocked by Britain triggering its exit from the European Union.

Oil prices on Wednesday extended gains from the previous session, lifted by supply disruptions in Libya and expectations that an OPEC-led output reduction will be extended into the second half of the year.

Gold fell on Wednesday in the face of technical resistance and positive economic data that boosted expectations for further U.S. interest rate hikes this year, supporting the dollar and equities markets.

In the latest news, Russia and Iran have pledged to continue efforts to rein in oil production and stabilise markets, the presidents of both countries said in a joint statement on Tuesday.

Egypt's proposed budget for the 2017-18 fiscal year which starts on July 1 projects government spending at 1.2 trillion Egyptian pounds ($65.90 billion), Prime Minister Sherif Ismail said on Tuesday.

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